OREGAON, PORTLAND, USA, September 16, 2022 /EINPresswire.com/ — Allied Market Research released a report titled “mobile phone accessories market by product type (battery, headphones/earphones, portable speaker, charger, memory card, protective case, power bank, battery case, screen protectors, popsockets and others), distribution channel (online and offline) and price range (Premium, Mid and Low: Global Opportunity Analysis and Industry Forecast, 2019-2026.” According to the report, the global mobile phone accessories industry was estimated at 224.69 billion in 2018 and is projected to reach $284.06 billion by 2026, registering a CAGR of 3.1% from 2019 to 2026.
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Drivers, constraints and opportunities-
Rising usage of smart mobile phones, emergence of smart wireless accessories, and advancements in gaming accessories are driving the growth of the global mobile phone accessories market. On the other hand, the high penetration of counterfeit products and the trade war among developed countries are hampering growth to some extent. However, technological developments in imaging and photographic accessories are expected to pave the way for lucrative opportunities in the industry.
COVID-19 scenario-
The outbreak of the pandemic has given way to a distorted supply chain across the globe, production and manufacturing facilities have also been disrupted in majority of countries, which has negatively impacted the global accessories market of mobile telephony.
However, as the global situation returns to normal, the market should recover quickly.
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The headphone segment dominated the market in 2018-
Based on product type, earphones segment dominated the market in 2018, contributing almost a quarter of the global mobile phone accessories market, owing to the growing penetration of IoT and AI in headphones. However, the battery case segment is expected to exhibit the fastest CAGR of 7.3% during the forecast period. The advancements in display and applications have instilled the demand for additional batteries for mobile phones and other accessories, which has also increased the demand for battery cases, thereby driving the growth of the segment.
The premium range segment will remain lucrative throughout the forecast period-
Based on price range, the high-end segment held the largest share in 2018, attracting nearly three-fifths of the global mobile phone accessories market. The same segment is also expected to show the fastest CAGR of 3.9% during the forecast period. This is because high disposable income in developed economies influences the sale of high-end products.
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Asia-Pacific, followed by North America, to retain the lion’s share-
By geography, the Asia-Pacific market, followed by North America, generated the highest share in 2018, holding nearly half of the global mobile phone accessories market. The region is also expected to cite the fastest CAGR of 3.6% throughout the forecast period. Rising disposable income of individuals and emergence of premium smartphone brands are driving the demand for mobile phone accessories in the Asia-Pacific region, thereby driving the growth of the market.
Key Industry Players-
Sennheiser Electronic GmbH & Co. KG
JVC Kenwood Corporation
Samsung Electronics Co., Ltd.
Sony Company
Apple Inc.
Bose Company
BYD Co Ltd.
Panasonic Company
Plantronics, Inc.
Energizer Holdings, Inc.
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